3:00PM BUSINESS NEWS WITH EMAH ATAI: Gov’t has urged all traders seeking payment from the South Sudan Government to remain patient until the current political disagreements in that country are ironed out.Recently, a group of Ugandan traders , including 9 local companies, issued a 16 day ultimatum to the Gov’t of South Sudan demanding for 123 billion Shillings accumulated from hundreds of tons of grain supplied to the South Sudan government. Meanwhile, Government says it is facilitating better trade between Uganda & South Sudan by putting in place infrastructure including boarder markets. A survey carried out by our reporter at various Fuel pump stations in Kabale shows that a liter of petrol currently goes for 5,000 shillings up from 3,800 shillings while on the black market it costs between 6,000 and 7,000 shillings. Prime Minister ,Amama Mbabazi has urged Europe’s largest coffee roaster, D.E. Master Blenders, to develop strategic relationships with coffee farmers in Uganda.Mbabazi told the delegation from the coffee roasting giant that the Govt has started a programme to multiply the number of coffee trees in the country to increase productivity. INTERNATIONAL BUSINESS: Oil giant Royal Dutch Shell has agreed to sell its Australian downstream business to oil trading firm Vitol for $2.6bn (£1.6bn). TECHNOLOGY: Google has unveiled a prototype smartphone with customised hardware and software that enables it to create 3D maps of a users surroundings. The devices sensors allow it make over 250,000 3D measurements every second and update its position in real-time. FOREX RATES: Currency Buying Selling USD 2,455 - 2,465 GBP 4,091 - 4,107 EUR 3,367 - 3,381 KSH 28.54 - 28.66 TSH 1.51 - 1.52
Posted on: Fri, 21 Feb 2014 11:58:25 +0000
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